# Ark. Code Ann. § 24-7-709: Disposition of retiree contributions - Residue > Arkansas · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-709 ## Section - **Citation:** Ark. Code Ann. § 24-7-709 - **Heading:** Disposition of retiree contributions - Residue - **Jurisdiction:** Arkansas - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** AR Code / Title 24 / Chapter 7 / Subchapter 7 / Section 24-7-709 ## Text (a) (1) If a retiree and his or her option annuitants, if any, die before receiving annuity payments equal to the retiree's residue, then the residue shall be paid to one (1) or more beneficiaries nominated by the retiree in a written designation that is executed and filed with the Arkansas Teacher Retirement System. (2) If a retiree designates more than one (1) beneficiary, the residue shall be divided equally among each designated beneficiary. (3) If a retiree and his or her option annuitants die and the member has failed to designate a beneficiary or if all designated beneficiaries have predeceased the retiree, the residue shall be paid to the retiree's estate. (4) If all designated beneficiaries predecease the retiree, the residue shall be paid to the estate of the most recently deceased designated beneficiary. (b) If upon the termination of the option annuity no surviving beneficiary designated by the retiree survives and it is impracticable to make payment to the retiree's estate, the residue shall be forfeited to the trust assets of the system subject to any valid claim of the retiree's estate under § 24-7-734 . Amended by Act 2023, No. 107,§ 44, eff. 7/1/2023. Amended by Act 2021, No. 279,§ 23, eff. 7/1/2021. Acts 1973, No. 427, § 9; A.S.A. 1947, § 80-1443; Acts 2005, No. 494, § 1; 2007, No. 97, § 15; 2009, No. 468, § 19. (a) (1) If a retiree and his or her option annuitants, if any, die before receiving annuity payments equal to the retiree's residue, then the residue shall be paid to one (1) or more beneficiaries nominated by the retiree in a written designation that is executed and filed with the Arkansas Teacher Retirement System. (2) If a retiree designates more than one (1) beneficiary, the residue shall be divided equally among each designated beneficiary. (3) If a retiree and his or her option annuitants die and the member has failed to designate a beneficiary or if all designated beneficiaries have predeceased the retiree, the residue shall be paid to the retiree's estate. (4) If all designated beneficiaries predecease the retiree, the residue shall be paid to the estate of the most recently deceased designated beneficiary. (1) If a retiree and his or her option annuitants, if any, die before receiving annuity payments equal to the retiree's residue, then the residue shall be paid to one (1) or more beneficiaries nominated by the retiree in a written designation that is executed and filed with the Arkansas Teacher Retirement System. (2) If a retiree designates more than one (1) beneficiary, the residue shall be divided equally among each designated beneficiary. (3) If a retiree and his or her option annuitants die and the member has failed to designate a beneficiary or if all designated beneficiaries have predeceased the retiree, the residue shall be paid to the retiree's estate. (4) If all designated beneficiaries predecease the retiree, the residue shall be paid to the estate of the most recently deceased designated beneficiary. (b) If upon the termination of the option annuity no surviving beneficiary designated by the retiree survives and it is impracticable to make payment to the retiree's estate, the residue shall be forfeited to the trust assets of the system subject to any valid claim of the retiree's estate under § 24-7-734 . Amended by Act 2023, No. 107,§ 44, eff. 7/1/2023. Amended by Act 2021, No. 279,§ 23, eff. 7/1/2021. Acts 1973, No. 427, § 9; A.S.A. 1947, § 80-1443; Acts 2005, No. 494, § 1; 2007, No. 97, § 15; 2009, No. 468, § 19. ## Nearby sections - [Ark. Code Ann. § 24-7-701 Voluntary retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-701.md) - [Ark. Code Ann. § 24-7-702 Early voluntary retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-702.md) - [Ark. Code Ann. § 24-7-704 Disability retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-704.md) - [Ark. Code Ann. § 24-7-705 Life annuity](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-705.md) - [Ark. Code Ann. § 24-7-706 Annuity options](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-706.md) - [Ark. Code Ann. § 24-7-707 Deferred retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-707.md) - [Ark. Code Ann. § 24-7-708 Employment of retired members by covered employers](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-708.md) - [Ark. Code Ann. § 24-7-709 Disposition of retiree contributions - Residue](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-709.md) - [Ark. Code Ann. § 24-7-710 Survivor annuity benefits](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-710.md) - [Ark. Code Ann. § 24-7-711 Refund of member contributions upon termination](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-711.md) - [Ark. Code Ann. § 24-7-712 Determination of benefit program](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-712.md) - [Ark. Code Ann. § 24-7-713 Retirement annuity - Simple cost of living adjustment and monthly benefit stipend - Definition](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-713.md) - [Ark. Code Ann. § 24-7-714 Increase in monthly benefits - Acts 1979, No. 655, and Acts 1981, No. 885](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-714.md) - [Ark. Code Ann. § 24-7-715 Benefit rights not subject to legal process - Definition](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-715.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-709. Check the current official text before relying on it. Not legal advice.